The National Payments Corporation of India (NPCI) is set to roll out its RuPay-branded credit cards in a month’s time.
NPCI, which currently provides RuPay debit cards, has teamed up with nearly 10 banks for the use of Rupay credit cards among their customers under a pilot project.
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The banks, which are collaborating with the NPCI on the credit card, include public sector banks and cooperative banks.
The RuPay credit card will be available in four variants: Select, a premium card; Platinum which offers certain limitations compared to the high end model; and Classic, the lowest limit card; as well as RuPay Mudra Card.
Select, the high-end variant of the RuPay credit card, will provide an insurance cover of INR1 million ($15,700) and it will be accepted across the globe.
NPCI, which acts as the nodal agency for digital payments in the country, said that it will introduce new products, including as a tap-and-go transit card.
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By GlobalDataAdditionally, the company is also working on a range of near field communication (NFC) systems that would be ready in next six to nine months.
